63,000 Primary Agriculture Credit Societies to go digital

Tribune News Service

New Delhi, June 29

The government today approved Rs 2,516 crore for the computerisation of over 63,000 functional Primary Agriculture Credit Societies (PACS) over the next five years.

The decision was taken by the Cabinet Committee on Economic Affairs chaired by Prime Minister Narendra Modi. The computerisation programme is aimed at increasing the efficiency of PACS, bringing transparency and accountability in their operations, help them diversify business and undertake multiple activities and services, said Information and Broadcasting Minister Anurag Singh Thakur while addressing mediapersons.

He said of the total budget outlay of Rs 2,516 crore, the Centre’s share would be Rs 1,528 crore.

PACS constitute the lowest tier of the three-tier short-term cooperative credit in the country comprising over 13 crore farmers as members. PACS account for 41 per cent of the Kisan Credit Cards (KCC) loans given by all entities in the country. As many as 95 per cent of these KCC loans (2.95 crore farmers) through PACS are given to small and marginal farmers.

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